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Posted by Benjamin Yazersky CPA on October 3, 2007, 5:25 pm
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> I bought stock (I have the certificates) for a couple of
> years through a company employee stock purchase plan about
> ten years ago. I am going to sell the stock this year for
> what I believe is a substantial loss, but I do not have a
> record of the exact prices I paid for the stock.
>
> How do I handle this to substantiate my loss to satisfy the
> IRS?
You will need to be able to determine and document your
"basis" in the stock. My guess is that the stock was
purchased through payroll deductions. If that is the case,
your basis may be found on your paystubs, or year end
payroll summary. Some companies also gross up the amount to
account for taxes withheld.
___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] >>>
-----> real address on hobokeni or hobokenx <-----
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